ConocoPhillips CEO Says Trade War Would Raise Costs for Industry

The video discusses the impact of trade tensions between China and the US on businesses, focusing on tariffs and their effects on steel and aluminum. It explores China's growing demand for LNG and oil, and how companies are strategizing amidst potential trade wars. The video also covers operations in the Permian and Eagle Ford regions, opportunities in Alaska and Austin Chalk, and the influence of OPEC on oil prices. Finally, it addresses legal actions against Venezuela for asset expropriation.

What is the primary concern regarding the trade impact between China and the US?

• The growth of the US economy

• The decrease in LNG demand

• The increase in oil prices

• The rise in aluminum and steel tariffs

How might the LNG market be affected by trade tensions?

• Demand will decrease significantly

• It will shift entirely to Europe

• It will face increased tariffs

• It is currently exempt from tariffs

What is a key strategy for companies dealing with natural gas production in the Permian?

• Increasing oil imports

• Reallocating resources to optimize production

• Focusing solely on domestic markets

• Reducing workforce

Why is the Eagle Ford region considered advantageous for investment?

• It has high oil prices

• It offers a Brent price equivalent

• It is closer to China

• It has no infrastructure

What is the company's approach to handling oil price volatility?

• Avoiding any market changes

• Chasing the cycles up and down

• Focusing only on high oil prices

• Embracing volatility and operating through the mid-cycle

How does the company plan to manage its operations at low oil prices?

• By increasing production costs

• By focusing on high-cost regions

• By reducing all investments

• By breaking even at $40 Brent price

What legal action has the company taken against Venezuela?

• Negotiated a new trade deal

• Increased oil exports to Venezuela

• Seized assets in the Caribbean

• Filed a lawsuit in the US